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Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
 COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government released a series of regulations, seen by many as a compromise position between a full ban and allowing exports of unprocessed ores to continue unabated. The last minute reprieve for producers of certain types of mineral concentrates is available only until 11 January 2017, and comes with strict requirements to show a commitment to building refining facilities (either individually or in cooperation with others), as well as an obligation to pay large and progressively increasing export tariffs, ranging from 20% up to 60% of export revenues.
The Government seems to have heeded the warnings from many sources of the potentially significant negative short-term impact on the economy of a full export ban – particularly in relation to copper concentrates. It has been asserted by many for some time that building additional copper refining capacity in Indonesia is not currently economically feasible, and a full ban on unrefined copper would result in scaled-back production by some of the country’s largest mineral exporters, with resultant job losses, and reduced dollar-denominated export revenues, at a time when Indonesia’s current account and currency are under pressure.
However, the temporary nature of the exception for certain mineral concentrates, and the very heavy export duties imposed, may not achieve the stated outcome hoped for by the Government, which is encouraging investment in refining facilities. Government regulation alone does not improve the economic feasibility of a project, and the heavy export duties may impact both the feasibility of continuing to export over the next three years, as well as the cash flows available for investment in refining capability.
A further concern is that the regulations make clear that they apply both to IUPs (or mining business licences) as well as Contracts of Work (CoWs). CoW holders are likely to question the applicability of newly-promulgated regulations and taxes given the lex specialis nature of their contracts – something which is bound to result in more uncertainty and investment delays in the Indonesian mining sector.
It is yet to be seen how the industry and the Government will respond to these challenges.
- Sacha Winzenried & Fandy Adhitya -
About Sacha Winzenried & Fandy Adhitya
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| Sacha Winzenried |
Fandy Adhitya |
Sacha Winzenried is the lead technical adviser, and Fandy Adhitya a director, in PwC Indonesia’s Energy, Utilities & Mining practice.
They are responsible for the production of mineIndonesia, PwC Indonesia’s annual review of trends in the Indonesian mining sector, which can be obtained at www.pwc.com/id.
Views and opinions / conclusion expressed herein are personal views of the author and not that of COALspot.com.
If you believe an article violates your rights or the rights of others, please contact us.
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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Planning Commission, India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
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